View transaction list Journal entry worksheet < 1 2 3 4 5 6 7 8 Record the purchase of 4,300 shares of its own common stock for $25 cash per share. Note: Enter debits before credits. Date General Journal Debit Credit 107,500 107,500 January 02 Treasury stock, common Cash Record entry Clear entry View general journal > View transaction list Journal entry worksheet 2 3 4 5 6 7 8 Record the declaration of a cash dividend of $1.50 per share. Note: Enter debits before credits. Date General Journal Debit Credit January 07 Retained earnings Common dividend payable Record entry Clear entry View general journal View transaction list Journal entry worksheet 1 2 3 4 5 6 7 Record the payment of the cash dividend declared on January 7. Note: Enter debits before credits. Date General Journal Debit Credit February 28 Common dividend payable Cash View general journal Record entry Clear entry > View transaction list Journal entry worksheet 1 2 3 4 5 6 8 Record the reissue of 1,720 shares of the treasury stock for $30 cash per share. Note: Enter debits before credits. Date July 09 Cash Treasury stock, common Paid-in capital, treasury stock General Journal Debit Credit 51,600 43,000 8,600 Record entry Clear entry View general journal > View transaction list Journal entry worksheet 2 3 4 5 6 8 Record the reissue of 2,150 shares of the treasury stock for $21 cash per share. Note: Enter debits before credits. Date August 27 Cash Paid-in capital, treasury stock General Journal Debit Credit 45,150 8,600 Record entry Clear entry View general journal View transaction list Journal entry worksheet < 1 2 3 4 5 6 7 8 Record the declaration of a cash dividend of $2 per share. Note: Enter debits before credits. Date September General Journal Debit Credit Retained earnings 09 Common dividend payable Record entry Clear entry View general journal View transaction list Journal entry worksheet 1 2 3 4 5 6 7 8 Record the payment of the cash dividend declared on September 9. Note: Enter debits before credits. Date General Journal Debit Credit October 22 Common dividend payable Cash Record entry Clear entry View general journal View transaction list Journal entry worksheet 1 2 3 4 5 6 7 8 Record the entry to close the $65,000 credit balance (from net income) in the Income Summary account to Retained Earnings. Note: Enter debits before credits. Date General Journal Debit Credit December 31 Income summary 65,000 Retained earnings 65,000 Record entry Clear entry View general journal Required 1 Required 2 Required 3 Prepare a statement of retained earnings for the current year ended Dec Note: Amounts to be deducted should be indicated by a minus sign. ALEX CORPORATION Statement of Retained Earnings For Current Year Ended December 31 Retained earnings, December 31, current year Plus net income $ 0 Required 1 Required 2 Required 3 Prepare the stockholders' equity section of the balance sheet as of December 3 Note: Amounts to be deducted should be indicated by a minus sign. ALEX CORPORATION Stockholders' Equity Section of the Balance Sheet December 31 Total stockholders' equity $ 0